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Monday, December 23, 2024

Wisconsin U.S. Rep Bryan Steil: "With todays #ratehike the Fed is finally taking action to address out-of-control inflation. The Fed..."

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Bryan Steil tweeted the following:

"With todays #ratehike the Fed is finally taking action to address out-of-control inflation. The Fed and other wonks have been saying inflation was transitory. Ive discussed the need to address the Feds massive balance sheet since Dec. of 2020."
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Here are other recent tweets from Bryan Steil:

"Many economists dont think it will get this bad, but if it rises to even 5%, the cost will be $1 Trillion in annual payments. For comparison, the Federal Government spends ~$1.2 Trillion per year on Social Security and ~$1.4 Trillion on Medicare."
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"Why is there a risk debt payments will balloon? In the 1980s when inflation was last at ~8%, average interest on the debt was ~10%."
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"If we were paying interest on the debt of 10% last year, the cost of our interest on the debt would be ~$2 Trillion. Almost the cost Social Security and Medicare combined."
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